Emerald Advisers LLC Reduces Stock Holdings in Modine Manufacturing (NYSE:MOD)

Emerald Advisers LLC trimmed its position in Modine Manufacturing (NYSE:MOD) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 261,838 shares of the auto parts company’s stock after selling 2,511 shares during the period. Modine Manufacturing comprises 1.2% of Emerald Advisers LLC’s portfolio, making the stock its 29th biggest holding. Emerald Advisers LLC owned about 0.50% of Modine Manufacturing worth $30,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Modine Manufacturing by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock worth $586,486,000 after purchasing an additional 70,581 shares during the last quarter. FMR LLC boosted its position in Modine Manufacturing by 14.0% in the third quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after purchasing an additional 543,419 shares during the last quarter. State Street Corp raised its stake in shares of Modine Manufacturing by 1.5% in the third quarter. State Street Corp now owns 1,219,916 shares of the auto parts company’s stock worth $161,993,000 after buying an additional 18,108 shares during the period. Geode Capital Management LLC raised its stake in shares of Modine Manufacturing by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company’s stock worth $155,522,000 after buying an additional 9,648 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Modine Manufacturing by 2.4% in the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock worth $153,072,000 after buying an additional 26,527 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th.

Modine Manufacturing Stock Up 1.0 %

NYSE MOD opened at $88.68 on Friday. The stock’s 50-day moving average price is $98.13 and its 200-day moving average price is $115.91. The company has a market capitalization of $4.66 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a 52 week low of $72.49 and a 52 week high of $146.84. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. On average, equities research analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its board has authorized a stock repurchase plan on Friday, March 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director William A. Wulfsohn bought 2,530 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now owns 7,277 shares of the company’s stock, valued at $578,012.11. This trade represents a 53.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.